All Forum Posts by: Zachary Deal

Yes, that sounds like it may be difficult to overcome. One idea could be doing 90+ day stay minimums to try and avoid too much turn over and keep the property as an MTR.

I think you could list in on Airbnb and VRBO for 30+ day stays. There may be some good facebook groups to check out for digital nomad as well.

Not sure about that specific area but I would recommend checking out Furnished Finder to do market analysis on the deal. You can use the Traveler Search feature to see other MTRs in the area. Taking a look at Airbnb/VRBO 30+ day stays and extended stay hotels as well may give you a better idea of demand as well

If you're still looking for financing for the property you could look into a hard money loan to fund the purchase and most of the rehab and then refinance into a DSCR loan. It would depend on the ARV after the repairs if that route makes sense (not sure with that little rehab, etc)

I think your descriptions are helpful, but good pictures with some measurements may be your best bet. This is especially important for the toilet. Including a line with approx. measurement in the image in my opinion would sufficient and then have a more general disclosure in the description. I've seen plenty of weird setups in NYC and typically it is not a deal breaker but you want to be upfront about it and let folks decides for themselves.

@Manuel Escalante Thanks for the insight! How has the pivot to LTR been? 

Besides Airbnb I would recommend Furnished Finder, VRBO 30 + days and local Facebook pages (can also try specific pages for travel nurses, etc). If you are going for insurance placements you can check out ALE/CRS as well.

This article is a great resource for MTR leases as well and includes a link to tenant specific state laws: https://www.turbotenant.com/blog/what-landlords-need-to-know...

@Ryan Pritchard Awesome - yep I think the guide you created sounds perfect. I would recommend both leaving a physical copy at the Airbnb as well as offering to send an e-doc when they book!

Have you checked Furnished Finder/Airbnb (30+ day stays) to see if there are many currently listed? I know there are a lot of hospitals in the area but a 3 bedroom unit may be too large/expensive for travelling nurses.

How wavy are the floors? I would think a simple disclaimer in the listing and picture would suffice. I've done similar things in the past when a listing had a unique flooring situation.